VEDRO
ActiveSummary
VEDRO has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €354k and a net result of €-48k. Equity is growing by ~6.3% per year across the filed fiscal years. Its solvency ranks better than 47% of 4178 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability22▼-14
Solvency58▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity tight (current ratio 1.28 against 1.3 in 2024; short-term debt: 57.8% and cash: 3.2% of total assets), and 66.6% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-48k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
26 d late
2023
28 d late
2022
29 d late
2021
31 d late
2020
31 d late
2019
81 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-48k▼ 80.8%
2024 · €-27k
Working capital
€173k▼ 13.4%
2024 · €199k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€72k▼ 46.0%€76k▲ 5.5%€19k▼ 74.7%€-10k€-43k▼ 338%
Net result€38k▼ 55.1%€41k▲ 7.6%€4k▼ 91.0%€-27k€-48k▼ 80.8%
Equity€384k▲ 11.1%€425k▲ 10.8%€429k▲ 0.9%€402k▼ 6.2%€354k▼ 11.9%
Total assets€1.33M▲ 42.2%€1.08M▼ 19.2%€1.19M▲ 10.3%€1.19M▲ 0.5%€1.06M▼ 11.2%
Debt€949k▲ 60.4%€652k▼ 31.4%€758k▲ 16.4%€791k▲ 4.3%€706k▼ 10.8%
Working capital€157k▲ 13.8%€239k▲ 52.1%€302k▲ 26.3%€199k▼ 34.0%€173k▼ 13.4%
Staff (FTE)10▼ 9.1%10.5▲ 5.0%12▲ 14.3%11.7▼ 2.5%10.9▼ 6.8%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €43k in 2025 against €10k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.06M
Fixed assets
€275k ▼ 15.1%
Current assets
€785k ▼ 9.7%
Equity and liabilities €1.06M
Equity
€354k ▼ 11.9%
Debt
€706k ▼ 10.8%
Debt's share of the balance-sheet total rises from 66.3% to 66.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€20k▼
2024 · €50k
Cash flow
€15k▼
2024 · €33k
Current ratio
1.28▼
2024 · 1.30
Quick ratio
0.73▼
2024 · 0.85
Debt to equity
1.99▲
2024 · 1.97
ROE
-13.5%▼
2024 · -6.6%
ROA
-4.5%▼
2024 · -2.2%
Interest coverage
1.09▼
2024 · 2.40
Debt ≤ 1 year
€612k▼
2024 · €670k
Debt > 1 year
€86k▼
2024 · €114k
Income taxes
€352▼
2024 · €643
Staff costs
€464k▲
2024 · €461k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €347k | €377k | €443k | €461k | €464k | ▲ 0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €87k | €90k | €105k | €60k | €63k | ▲ 5.9% |
| Other operating charges640/8 | €13k | €14k | €15k | €15k | €16k | ▲ 0.5% |
| Non-recurring operating charges66A | - | - | - | - | €2k | - |
| Gross operating margin9900 | €519k | €558k | €584k | €526k | €501k | ▼ 4.7% |
| Operating profit (loss)9901 | €72k | €76k | €19k | €-10k | €-43k | ▼ 338% |
| Financial income75/76B | €2k | €2k | €4k | €5k | €14k | ▲ 170% |
| Recurring financial income75 | €2k | €2k | €4k | €5k | €14k | ▲ 170% |
| Financial charges65/66B | €19k | €17k | €19k | €21k | €18k | ▼ 13.5% |
| Recurring financial charges65 | €19k | €17k | €19k | €21k | €18k | ▼ 11.8% |
| Non-recurring financial charges66B | €535 | €710 | €120 | €400 | - | - |
| Profit (loss) for the period before taxes9903 | €55k | €61k | €4k | €-26k | €-48k | ▼ 84.0% |
| Income taxes67/77 | €17k | €20k | €500 | €643 | €352 | ▼ 45.2% |
| Profit (loss) for the period9904 | €38k | €41k | €4k | €-27k | €-48k | ▼ 80.8% |
| Profit (loss) for the period to be appropriated9905 | €38k | €41k | €4k | €-27k | €-48k | ▼ 80.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.33M | €1.08M | €1.19M | €1.19M | €1.06M | ▼ 11.2% |
| Fixed assets21/28 | €342k | €258k | €307k | €324k | €275k | ▼ 15.1% |
| Tangible fixed assets22/27 | €240k | €156k | €205k | €223k | €174k | ▼ 22.0% |
| Plant, machinery and equipment23 | €148k | €83k | €157k | €146k | €125k | ▼ 13.9% |
| Furniture and vehicles24 | €92k | €73k | €48k | €77k | €48k | ▼ 37.4% |
| Financial fixed assets28 | €102k | €102k | €102k | €102k | €102k | = |
| Current assets29/58 | €991k | €819k | €880k | €869k | €785k | ▼ 9.7% |
| Amounts receivable after more than one year29 | €18k | €13k | €9k | €5k | - | - |
| Trade receivables290 | €18k | €13k | €9k | €5k | - | - |
| Stocks and contracts in progress3 | €228k | €265k | €290k | €297k | €338k | ▲ 13.7% |
| Stocks30/36 | €228k | €265k | €290k | €297k | €338k | ▲ 13.7% |
| Amounts receivable within one year40/41 | €362k | €463k | €429k | €496k | €409k | ▼ 17.5% |
| Trade receivables40 | €44k | €25k | - | €36k | €38k | ▲ 7.5% |
| Other amounts receivable41 | €318k | €437k | €429k | €460k | €371k | ▼ 19.4% |
| Cash at bank and in hand54/58 | €367k | €56k | €132k | €53k | €34k | ▼ 36.2% |
| Deferred charges and accrued income490/1 | €16k | €22k | €20k | €18k | €4k | ▼ 79.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.33M | €1.08M | €1.19M | €1.19M | €1.06M | ▼ 11.2% |
| Equity10/15 | €384k | €425k | €429k | €402k | €354k | ▼ 11.9% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €322k | €363k | €367k | €367k | €367k | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Tax-exempt reserves132 | €15k | €15k | €15k | €15k | €15k | = |
| Distributable reserves133 | €300k | €342k | €346k | €346k | €346k | = |
| Profit (loss) carried forward14 | - | - | - | €-27k | €-75k | ▼ 181% |
| Amounts payable17/49 | €949k | €652k | €758k | €791k | €706k | ▼ 10.8% |
| Amounts payable after more than one year17 | €105k | €72k | €173k | €114k | €86k | ▼ 24.2% |
| Financial debts170/4 | €105k | €72k | €173k | €114k | €86k | ▼ 24.2% |
| Amounts payable within one year42/48 | €834k | €580k | €578k | €670k | €612k | ▼ 8.6% |
| Current portion of amounts payable after more than one year42 | €33k | €33k | €46k | €59k | €28k | ▼ 53.5% |
| Trade debts44 | €486k | €258k | €216k | €178k | €266k | ▲ 49.5% |
| Suppliers440/4 | €486k | €258k | €216k | €178k | €266k | ▲ 49.5% |
| Taxes, remuneration and social security45 | €48k | €51k | €80k | €47k | €49k | ▲ 5.6% |
| Taxes450/3 | €11k | €13k | €15k | €3k | €5k | ▲ 60.3% |
| Remuneration and social security454/9 | €36k | €38k | €64k | €44k | €45k | ▲ 2.0% |
| Other amounts payable47/48 | €268k | €237k | €235k | €386k | €270k | ▼ 30.1% |
| Accrued charges and deferred income492/3 | €11k | €154 | €7k | €7k | €7k | ▼ 2.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38k | €41k | €4k | €-27k | €-48k | ▼ 80.8% |
| + Depreciation and write-downs630 | €87k | €90k | €105k | €60k | €63k | ▲ 5.9% |
| Operating cash flow (approximation) | €125k | €132k | €109k | €33k | €15k | ▼ 54.0% |
| Investment in fixed assets (approximation) | - | €-6k | €-155k | €-77k | €-14k | ▲ 81.5% |
| Change in cash | - | €-312k | €77k | €-79k | €-19k | ▲ 75.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 25 days late
2025
31-12
Financial
Weakest financial yearnet €-48k
Net result drops to €-48k, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 26 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 28 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €86k ▲9,052%
Operating result €134k, net result €86k, both a record.
20-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 81 days late
2019
24-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 55 days late
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Namur · 1 establishment unit since 1989
Ground area
3,814 m²
Building footprint
1,187 m²
Volume, LiDAR
5,875 m³
Parcel 92128A0098/00E000, Wallonia · tallest building 11.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SPRL UNIC
since 19892.032.225.026
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92128A0098/00E000 | Wallonia | 3,814 m² | 1 · 1,187 m² | 11.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteNamur2.032.225.026
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Of 10,506 companies in sector 47110 we hold annual accounts for 5,848. 3,587 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded10-04-1987
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Scores and ratios are computed by Checked and are not a credit decision.